Sarkozy says Obama shares view on financial sector funding

3rd November 2011, Comments 0 comments

G20 host President Nicolas Sarkozy of France said Thursday he and US President Barack Obama share views on the need for the financial sector to contribute to crisis resolution measures.

Standing with US counterpart after pre-summit bilateral talks, Sarkozy did not explicitly say Obama was ready to back his plan for a tax on financial transactions, but said they had a "shared analysis" of the problem.

"I'd like to pay tribute to President Obama's understanding, including on subjects like the tax on financial activities," Sarkozy said.

The French leader said he had Obama had "compared our positions and I think we found a shared analysis on the need to make the financial world contribute towards the resolution of today's crisis."

France and Germany have touted the need for a small global tax on financial transactions in order to restrain market speculation and raise funds to help pay for the recent bail-outs of banks and eurozone governments.

But the United States and several other world powers oppose such as tax.

© 2011 AFP

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